Moderator Question/Comment: I read through the FAQ to try and make sure I'm not violating any policies. My intention is to try and make a tool that I (and maybe others?) might find useful. Since I believe in rapid prototyping and iteration, I'm hoping to get some early feedback. If this is in violation, please take it down and I won't post again .
EALY VISUALIZATION
You can see this at: OMY... well... should I?
What you see is just graphic versions of a very basic google doc. Rather than code it all up seems to make sense to show what input/output might look like.
CURRENT GOAL
The goal is very simple for this version. I am currently NOT retired but CLOSE and thus fall squarly into the OMY problem. While there are MANY elements to consider, a huge one for me is the fear of money running out which acts as a strong motivation to keep saving.
It's incredibly easy to calculate the financial risk impact of working one more year. It's less easy to calculate the non-financial risk impact. So I started with the most basic and high level stat, which is mortality.
Essentially this version just tells me that for someone my age/savings rate/withdrawal rate what is the impact of OMY of work/saving on my longevity and mortality.
In this hypothetical example, I can see my withdrawal rate dropping while my life expectancy also drops and my chance of dying increases. From early tinkering I was pretty amazed at how rapidly this can change at various stages. in short, working 5 OMYs when you are 30 to get your WR from 4.5 to 3.5% vs. mortality/life expectancy is really different than working 5 OMYs to go from 3.5% to 3.2% SWR when you are 50. Also, seeing my own life expectancy drop by about 5 years during those 5 years is like watching the candle burn from both ends... additionally, I would expect the last 5 years to be qualitatively different than the next 5.
FEEDBACK REQUEST
I'd appreciate any and all feedback. I have no intention of putting up a bunch of ads or trying to make this some kind of business venture. It's something I'm doing anyway to help myself and I hope it might help some others. I have tons of respect for all the people on this board and you guys have helped me a ton.
Feel free to be brutal. I've been a software developer for a few decades and will take it as a compliment that you even take a look and give me a comment even if it's "that sucks."
APPENDIX
Mortality data: https://www.ssa.gov/oact/STATS/table4c6.html
Firecalc success rate: FIRECalc: A different kind of retirement calculator (using the inputs in the graphic)
Technology: Built using PHP and Bootstrap (should work on phones decently well)
Prototyping: Tables built in Google sheets, uploaded as images.
Thanks!
EALY VISUALIZATION
You can see this at: OMY... well... should I?
What you see is just graphic versions of a very basic google doc. Rather than code it all up seems to make sense to show what input/output might look like.
CURRENT GOAL
The goal is very simple for this version. I am currently NOT retired but CLOSE and thus fall squarly into the OMY problem. While there are MANY elements to consider, a huge one for me is the fear of money running out which acts as a strong motivation to keep saving.
It's incredibly easy to calculate the financial risk impact of working one more year. It's less easy to calculate the non-financial risk impact. So I started with the most basic and high level stat, which is mortality.
Essentially this version just tells me that for someone my age/savings rate/withdrawal rate what is the impact of OMY of work/saving on my longevity and mortality.
In this hypothetical example, I can see my withdrawal rate dropping while my life expectancy also drops and my chance of dying increases. From early tinkering I was pretty amazed at how rapidly this can change at various stages. in short, working 5 OMYs when you are 30 to get your WR from 4.5 to 3.5% vs. mortality/life expectancy is really different than working 5 OMYs to go from 3.5% to 3.2% SWR when you are 50. Also, seeing my own life expectancy drop by about 5 years during those 5 years is like watching the candle burn from both ends... additionally, I would expect the last 5 years to be qualitatively different than the next 5.
FEEDBACK REQUEST
I'd appreciate any and all feedback. I have no intention of putting up a bunch of ads or trying to make this some kind of business venture. It's something I'm doing anyway to help myself and I hope it might help some others. I have tons of respect for all the people on this board and you guys have helped me a ton.
Feel free to be brutal. I've been a software developer for a few decades and will take it as a compliment that you even take a look and give me a comment even if it's "that sucks."
APPENDIX
Mortality data: https://www.ssa.gov/oact/STATS/table4c6.html
Firecalc success rate: FIRECalc: A different kind of retirement calculator (using the inputs in the graphic)
Technology: Built using PHP and Bootstrap (should work on phones decently well)
Prototyping: Tables built in Google sheets, uploaded as images.
Thanks!